New Direct Maritime Route to Boost Venezuela-Turkey Trade
A direct maritime route between Venezuela and Turkey, aimed at enhancing trade relations, will commence operations on September 15, reports 24brussels. Hayri Kucukyavuz, president of the Venezuelan-Turkish Business Chamber (CAVETURK), announced this development in an interview with Unión Radio.
The initiative is expected to significantly accelerate trade exchanges, with a target of increasing bilateral trade to $3 billion over the next three years. Kucukyavuz highlighted that the most notable advantage will be the drastic reduction in transit times; the new route will enable ships to complete their journey in just 18 days, compared to over 60 days using the previous indirect route that required stops at other international ports.
The inaugural ship on this route will have the capacity to transport 400 containers and is set to deliver a range of products including wheat flour, pasta, chocolate, oil, cosmetics, and detergent to Venezuela. Venezuela is also set to export items such as coffee, octopus, and shrimp to Turkey, with future plans to include mangoes, avocados, lemons, and passion fruits to the list of exports.
According to the Turkish trade association Musiad, the trade balance between Venezuela and Turkey is projected to reach $800 million by the end of this year, marking a 24 percent increase compared to 2024 based on official statistics. To further promote cooperation, a trade fair is scheduled to take place in Caracas in November, featuring participation from 80 Turkish business representatives.